Wells Fargo & Company Cuts Klaviyo (NYSE:KVYO) Price Target to $45.00

Klaviyo (NYSE:KVYO) had its target price dropped by investment analysts at Wells Fargo & Company from $48.00 to $45.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential downside of 4.13% from the company’s previous close.

KVYO has been the subject of a number of other research reports. Canaccord Genuity Group lifted their price objective on shares of Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Loop Capital raised their target price on shares of Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Robert W. Baird raised their target price on shares of Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Benchmark raised their target price on shares of Klaviyo from $40.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, William Blair reissued an “outperform” rating on shares of Klaviyo in a research report on Thursday, December 19th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $45.53.

Klaviyo Price Performance

Shares of KVYO opened at $46.94 on Thursday. Klaviyo has a 1-year low of $21.26 and a 1-year high of $49.55. The company has a 50-day moving average of $43.56 and a 200 day moving average of $37.75. The firm has a market capitalization of $12.66 billion, a price-to-earnings ratio of -260.76 and a beta of 0.60.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. On average, equities analysts anticipate that Klaviyo will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Klaviyo news, President Stephen Eric Rowland sold 4,536 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total transaction of $181,621.44. Following the completion of the transaction, the president now directly owns 260,403 shares in the company, valued at approximately $10,426,536.12. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Amanda Whalen sold 1,050 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $40.07, for a total transaction of $42,073.50. Following the completion of the sale, the chief financial officer now owns 395,616 shares of the company’s stock, valued at $15,852,333.12. This trade represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,536 shares of company stock valued at $4,720,953. Corporate insiders own 53.24% of the company’s stock.

Institutional Investors Weigh In On Klaviyo

Hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. raised its position in shares of Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after buying an additional 808 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in Klaviyo by 169.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after purchasing an additional 1,102 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Klaviyo by 77.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock worth $77,000 after purchasing an additional 818 shares during the last quarter. West Tower Group LLC acquired a new stake in Klaviyo during the third quarter worth about $177,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Klaviyo during the fourth quarter worth about $196,000. 45.43% of the stock is currently owned by institutional investors and hedge funds.

About Klaviyo

Klaviyo, Inc, a technology company, provides a software-as-a-service platform in the United States, other Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers Klaviyo, a cloud-native platform for data store, segmentation engine, campaigns and flows, and messaging infrastructure.